Pdf south african income tax implications for income earned in. South african income tax act, vat act, customs and excise act, stt act, estate duty act, transfer duty act, tax administration act, interpretation notes, dtas, comprehensive definitions lists, tax topics, personalised notes and personalised information folders. The south african revenue service is hereby established as an organ of state within the public administration. South african income tax 2018, m stiglingh et al aqsat advanced questions on sa tax 2018, parsons, s editor student handbook saica student handbook 20172018 volume 3 the act the income tax act no. Subject to certain exceptions, local dividends are fully exempt from income tax in the hands of the recipient. South african tax legislation south african revenue service sars is responsible for collecting tax. Legal succession to the south african transport services act 9 of 1989. For income tax purposes, this guide has been updated to include the tax administration laws amendment act 22 of 2018, the taxation laws amendment act 23 of 2018 and the. Taxation and investment in south africa 2017 deloitte. Silke on south african income tax download ebook pdf, epub. Apr 02, 2020 happe tax is a professional south african tax legislation app. Tax administration act 28 of 2011 south african government. This act may be cited as the income tax act, 1973 and shall, subject to the sixth schedule, come into operation on 1st january, 1974, and apply to assessments for the year of income 1974 and subsequent years of income. Acts online provides legislation, including amendments and regulations, in an intuitive, online format.
Income tax act, 1962 customs and excise act, 1964 value. Skills development act south african revenue service act, no. The aim of this dissertation is to research the existing south african income tax legislation that is available for use by various parties when conducting equity transactions aimed at compliance with the ownership element of the black economic empowerment bee scorecard and to. Republic of south africa south african revenue service act office of the president no. University of cape town,faculty of commerce,department of finance and tax, 2016 cited yyyy month dd. The income tax act 58 of 1962 the vat act 89 of 1991 the customs act 91 of 1964 interpretation of statutes. South africa expat tax, explaining the new sars tax law changes. Energy efficient savings deduction the itr14 was expanded to include disclosure for any energy efficient savings deduction claimed in. With acts you are guaranteed the latest and most up to date resource for your legislative needs. At least 60 of these days are continuous or unbroken. South african revenue service makes changes to 2014 corporate. Have a formal employment contract with a foreign employer, are a south african tax resident, spend at least 183 days of a consecutive 12month period outside of sa rendering services to your foreign employer, and. Sars administers a wide range of legislation in terms of part 1 and schedule 1 to the south african revenue service act, 1997.
South african revenue service makes changes to 2014. Silke on south african income tax download ebook pdf. Study the following definitions in section 1 of the income tax act. A critical analysis of tax avoidance in the south african. Foreign dividends are subject to income tax in the hands of a south african shareholder, but exempt if the shareholder holds at least 10% of the. It is hereby notified that the president has assented to the following act which is hereby published for general information. Sarss objective is the eficient and effective collection. Income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website. Always bear in mind that deductions can only be claimed.
Income tax act 58 of 1962 south african government. The general deduction formula is contained in section 11 a read with. The sa income tax guide can be used to refresh your knowledge or gain a quick overview and contains references to enable users to consult the actual terms of the law when necessary. Republic of south africa updated 10 april 2018 republic of south africa transfer pricing country profile updated april 2018 summary reference the arms length principle 1 does your domestic legislation or regulation make reference to the arms length principle. Apr 06, 2020 south african expat tax is the new rule by south africas south african revenue service. Evaluation of the source rules as contained in section. South africas tax system is determined by the laws that the commissioner of sars must administer. There are no special tax concessions for expatriates. Click download or read online button to get silke on south african income tax book now. Find out below what it means to you and ways to plan finances for maximum efficiency. South african nationals working abroad would be welladvised to obtain professional advice on the determination of their south african tax residence status. The itr14 also requires a declaration of adherence to the requirements of section 6quin of the income tax act by the company.
Interpretation 1 in this act, unless the context otherwise requires. This site is like a library, use search box in the widget to get ebook that you want. Under south african law a resident is defined by the income tax act, 1962, as either an individual who meets thephysical presence test an or individual who is ordinarily resident in south africa under south african common law. The income tax act restricts pbos from using their resources to directly or indirectly support, advance, or oppose any political party income tax act section 303h. For this reason it is important to determine whether a person is a resident or nonresident for tax purposes. Nonprofit law in south africa council on foundations. The income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website.
Work through the notes on interpretation of legislation. Various amendments have been made by the taxation laws amendment act, act 5 of. Taxation in south africa 2019 i taxation in south africa 201 9. South african expat tax is the new rule by south africas south african revenue service. This research concluded that most transactions in virtual worlds resulting in income would qualify as gross income under the south african income tax act. It is foreign income which may not be subject to tax if you. Income tax is the normal tax which is paid on your taxable income. A person will be considered to be ordinarily resident in south africa, if south africa. Notes on south african income tax, 2016 book, 2016.
Office nipmo of south africa oversees ip rights within the country. Incorporating legislation up to december 2015 including the tax administration laws amendment bill 2015, the taxation laws amendment bill 2015, and the rates and monetary amounts and amendment of revenue laws amendment bill 2015. A concise and reliable guide to south african income tax law for the current tax year. The act has gone through numerous amendments with the act presently in force is the income tax act no 58 of 1962 which contains provisions for four different types of income tax. Income received by or accrued to a nonresidents from a source within south africa the income tax treatment of overseas income application of oecd model double tax treaty to given situations explanation of antiavoidance regulations double taxation relief available to individuals. Income tax act 90 of 1988 income tax amendment act 99 of 1988.
Note that the various amendment acts are available in pdf format at sars. The intellectual property laws amendment act and the counterfeit goods act reflect south. We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders. South africa expat tax, explaining the new sars tax law. Tax paid in the foreign country generally may be offset against the south african tax payable. All information contained in this document is summarized by kpmg services pty ltd, the south african member firm affiliated with kpmg international cooperative kpmg international, a swiss entity, based on the south african income tax act 58 of 1962 and subsequent amendments. The following acts are examples of the primary legislation sars administers. Amendments to s66 ita in respect of the period covered by the income tax return in the year when a saresident taxpayer becomes nonresident s2723. Income tax act 90 of 1988 income tax amendment act 99 of 1988 income tax act 70 of 1989 legal succession to the south african transport services act 9 of 1989. South african law does not restrict the political activities of organisations that are not approved as pbos, however. Income tax in south africa was first introduced in 1914 with the introduction of the income tax act no 28, an act that had its origins in the new south wales act of 1895. Evaluation of the source rules as contained in section 9 of the south african income tax act as relating to software in the context of the digital economy.
However, see comments below in respect of wht on dividends in the form of a dividends tax. All air prevention and control of pollution act, 1981 apprentices act, 1961 arbitration and conciliation act, 1996 banking cash transaction tax black money undisclosed foreign income and assets and imposition of tax act, 2015 central boards of revenue act, 1963 charitable and religious trusts act, 1920 charitable endowments act, 1890. This is a general guide providing an overview of the most significant tax legislation administered in south africaby the commissioner for the south african revenue service sars, namely, the income tax act. South africa is switching to a new way of working out income tax for expats which means they could pay tax on money that they earn abroad and never send home. The tax implication of ceasing to be a south african tax resident is that the taxpayer is deemed to have disposed of all capital assets other than immovable property in the republic or assets attributable to a permanent establishment of the republic. Disclosure requirements for purposes of the administration of the income tax act, the tax authorities. Examples of amounts an individual may receive, and from which the taxable income is determined, include remuneration income from employment, such as, salaries, wages, bonuses, overtime pay, taxable fringe benefits, allowances and certain lump sum benefits. South african institute of chartered accountants integritax newsletter income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website the consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of sa consolidated legislation website.189 581 840 147 1623 280 1335 1383 1241 568 1120 733 583 197 241 1616 188 392 148 267 1528 1354 1344 1049 262 1567 906 1378 1208 6 443 959 144 1339 582 417 372 673 779 801 484 244 1165 396 1178 761 831 599 898